Title of article
Stochastic gradient learning in the cobweb model
Author/Authors
George W. Evans، نويسنده , , S. Honkapohja، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1998
Pages
5
From page
333
To page
337
Abstract
We consider the effects of replacing least squares learning by stochastic gradient learning in the multivariate ‘cobwebʹ model. Are the stability conditions altered? For this model, we show global convergence of stochastic gradient learning to the unique rational expectations equilibrium provided the E-stability condition is satisfied. This is identical to the stability condition governing convergence under least squares learning.
Keywords
stability , Bounded rationality , adaptive learning
Journal title
Economics Letters
Serial Year
1998
Journal title
Economics Letters
Record number
434684
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